The shipping sector has recorded strong demand and strong rates. What is the reason and could Covid be the only thing that is driving the market? Lars Jensen from Sea Intelligence Consulting spoke to us about this and other topics.
The Logistics Point October 2020
According to Jensen the global economy is experiencing a K-shaped recovery where some sectors are recovering faster than others. He points at retail companies which have recorded good sales on certain categories of products like those for home improvement. The expert however is cautious when evaluating how sustainable that recovery is. “There is a limited amount of home improvement that can be done,” he argues. PPE equipment is also driving sales up. Jensen expects to see decreased imports even to these goods as companies have started to stockpile on them and will soon import only to manage actual demand.
On the other end of the K are elements of the service sector like bars, restaurants and travel agents – these have been completely decimated by Covid-19. “We tend to talk about the global economy as one unite and look at how GDP is doing,” Jensen says.
More about the global recovery post Covid-19 read HERE…
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